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2 Climate change A global threat to the insurance industry Weather conditions have become more extreme Weather related claim frequencies and averages are increasing simultaneously Already more than 40 % of Allianz claims are climate or weather related In the long run, rising premiums as the only reaction to climate risks can render insurance coverage unaffordable for some customers Primary insurers are facing unaffordable reinsurance premiums and a lack of alternative risk transfer Growing number of un-insurable risks (especially in costal and urban areas) with consequences for other industries, especially financing Copyright Allianz 12/3/2009 2

3 and also a business opportunity Allianz climate change strategy (December 2005, abstract): Gather information on climate change risks and lay the basis to better predict and underwrite climate associated risks Increase transparency through integration of climate change exposures into pricing Investigate the potential for new insurance products supportive for lowcarbon technology We re investing more than one billion Euros in renewable energy, and are offering some of the first funds and products in these areas. Now we need to transfer these innovations from the niche markets into the domain of everyday business. Michael Diekmann, Chairman Allianz Group Copyright Allianz 12/3/2009 3

9 We believe that with knowledge comes a responsibility to act A Joint product development and implementation of ECOmotion (product for carbon neutral driving) Climate Change World Wide Fund For Nature Global Round Table On Climate Change B Study on sustainable insurance customers ( LOHAS *) Verification of three hypothesis 1) Possibility to segment the insurance customers among sustainable attitudes and characteristics 2) Sustainable customers are more risk avers than the average 3) Sustainable customers have a better risk in selected insurance relevant issues Carbon Disclosure Project 2 - German Businesses for Climate Protection C Study Report on Energy and Climate Policy in Europe regarding the costs of becoming a low-carbon economy D Study Tipping points regarding the major tipping points in the Earth s climate system and consequences for the insurance sector *) LOHAS = Lifestyle of Health and Sustainability Copyright Allianz 12/3/2009 9

10 We believe we are setting the green standard in the insurance industry and, most importantly, offering significant value to our customers. Mike LaRocco, President and CEO FFIC Copyright Allianz 12/3/

11 Contact us Do you have specific questions relating to Green insurance products? Or do you desire further information? We are always happy to help. Please contact Allianz Climate Solutions. Allianz Climate Solutions Koeniginstr Munich Germany Copyright Allianz 12/3/

12 Disclaimer These assessments are, as always, subject to the disclaimer provided below. Cautionary Note Regarding Forward-Looking Statements The statements contained herein may include statements of future expectations and other forward-looking statements that are based on management s current views and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in such statements. In addition to statements which are forward-looking by reason of context, the words "may", "will", "should", "expects", "plans", "intends", "anticipates", "believes", "estimates", "predicts", "potential", or "continue" and similar expressions identify forward-looking statements. Actual results, performance or events may differ materially from those in such statements due to, without limitation, (i) general economic conditions, including in particular economic conditions in the Allianz Group s core business and core markets, (ii) performance of financial markets, including emerging markets, and including market volatility, liquidity and credit events (iii) the frequency and severity of insured loss events, including from natural catastrophes and including the development of loss expenses, (iv) mortality and morbidity levels and trends, (v) persistency levels, (vi) the extent of credit defaults, (vii) interest rate levels, (viii) currency exchange rates including the Euro/U.S. Dollar exchange rate, (ix) changing levels of competition, (x) changes in laws and regulations, including monetary convergence and the European Monetary Union, (xi) changes in the policies of central banks and/or foreign governments, (xii) the impact of acquisitions, including related integration issues, (xiii) reorganization measures, and (xiv) general competitive factors, in each case on a local, regional, national and/or global basis. Many of these factors may be more likely to occur, or more pronounced, as a result of terrorist activities and their consequences. The matters discussed herein may also be affected by risks and uncertainties described from time to time in Allianz SE s filings with the U.S. Securities and Exchange Commission. The company assumes no obligation to update any forward-looking statement. No duty to update The company assumes no obligation to update any information contained herein. Copyright Allianz 12/3/

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